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In a statement given outside Downing Street, Ms Truss announced she will step down once a new leader is appointed.

It comes after 24 hours of turmoil inside Westminster, with calls for the prime minister to resign and rumours of a general election – and that’s just from Tory MPs.

Speaking outside Downing Street this lunchtime, she said: ‘Given the situation I cannot deliver the mandate on which I was elected.

Britain's Prime Minister Liz Truss delivers a speech outside of 10 Downing Street in central London on October 20, 2022 to announce her resignation.

‘I have spoken to His Majesty the King to resign as leader of the Conservative Party.’

Opposition councillors demand Tom Hollis's resignation following court sentence

Ms Truss’s premiership has faced U-turns over the mini-budget and departure of key players, including former chancellor Kwasi Kwarteng and Home Secretary Suella Braverman.

Labour leader Keir Starmer has demanded a general election "now" after Liz Truss announced her resignation as Prime Minister.

Prime Minister Liz Truss announces resignation after 24 hours of chaos in Westminster